Hines and Accor announce plans for a hotel in the Unione 0 district of Milanosesto

MILAN – Hines, the global real estate company, and Accor, a global leader in the hospitality industry, announce hotel projects in MilanoSesto through an agreement with the “Union 0” real estate fund.

the “Union 0” real estate fund, managed by Prelios SGR and ultimately invested by Hines and Cale Street, has entered into a firm agreement with Accor for a hotel to be developed on the Unione 0 private lot in MilanoSesto, on a 25-year lease, through the hotel group partner Amapa. Hines is also a strategic advisor and responsible for the development of the entire 13-year MilanoSesto project. Prelios, meanwhile, acts as manager of the “Union 0” real estate fund and global initiative asset and project manager.

Currently, construction is continuing on the section of the Unione 0 private lot in MilanoSesto, which extends over 250,000 square meters, bordering the old railway station in the Falck region. Excavation work for the hotel will begin in August 2022 and construction of the buildings is expected to begin by the end of 2022. The buildings include the hotel (301 rooms), offices spanning c. 48,000 m², student residences for around 700 people, social housing (285 apartments) and free residences (480 apartments). The area will also include a first 13-hectare section of the 45-hectare park, designed by international architecture firm LAND.

The hotel will have 301 rooms which will be operated under two brands of the Accor group: 204 rooms will be managed by Novotel and will offer services such as short-term or rental accommodation, while a total of 97 serviced apartments will be managed by Adagio and used as medium- to long-stay accommodation. The hotel will span 19 floors covering approximately 16,000 square meters and will adhere to the highest environmental, sustainability and energy efficiency standards, aiming to achieve LEED Gold certification.

The hotel, designed by international architecture and design firm Antonio Citterio Patricia Viel (ACPV), will sit alongside the new Sesto San Giovanni station, designed by Renzo Piano Building Workshop in collaboration with Ottavio Di Blasi & Partners, located nearby of the future City of Health and Research (Città della Salute e della Ricerca – CdSR), a public complex for clinical research and healthcare training, fully funded by the Italian State and the Lombardy Region. It will also house the National Cancer Institute and the “Carlo Besta” Neurological Institute, with the two centers of excellence which are expected to receive approximately 4,000 visitors each day.

The signature of this agreement is expected in early 2026 and demonstrates Hines’ ability to partner with large companies for the projects it manages and develops. These projects are characterized by a long-term approach and an ESG vision emphasizing economic viability to ensure their success.

“Working with an operator like Accor which is known for its great vision in the hospitality industry is rewarding for us as we are fully confident that they can make the most of the opportunities that MilanoSesto will bring to the region. At Hines we are committed to regenerating a long neglected part of Milan with the aim of bringing the old Falck district back to life to provide new ways for existing businesses and communities to attract new residents, office workers, students and visitors while focusing on ESG initiatives”, said Mario Abbadessa, Senior Managing Director and Country Head at Hines Italy.

“Hines’ vision complements our approach to sustainable hospitality and respect for the region’s history. We would like to thank our long-standing partner Amapa, with whom we will be collaborating to manage the two facilities, in addition to the nine properties already managed together in Italy,” commented Jérôme Lassara, VP Development Southern Europe at Accor.

Legal advisory services were provided to the “Union 0” real estate fund by Gianni&Origoni-GOP, HVS Global Hospitality Services acted on matters relating to the feasibility study and the identification and selection of the operator, and Geller Capital Partners on business advisory matters.

Hines is also a strategic advisor and responsible for the development of the entire 13-year MilanoSesto project. Prelios, meanwhile, acts as manager of the “Union 0” real estate fund and global initiative asset and project manager.

About MilanoSesto

MilanoSesto, the largest urban regeneration project in Italy and one of the most ambitious in Europe, will transform an area of ​​more than 1.5 million square meters, where the Falck steelworks of Sesto San Giovanni once stood, into an efficient, sustainable and inclusive urban center . The master plan designed by the international architecture firm Foster + Partners foresees a gradual development over the next few years with landscaping, residential areas, new squares, commercial and office spaces and, above all, places designed to connect people. Located in a strategic position in the northeast of Milan, the area is well connected to the surrounding communities thanks to the new Sesto San Giovanni station (whose works began in July 2021 and will last two years), the metro station and the major highways allowing quick access to the city center, tolls and the rest of Lombardy.

The development project includes a unique mix of functions, including innovative housing based on accessibility criteria, special services for the individual and an intergenerational program of student housing, multi-family residences for professionals and young families and housing for seniors. The area will also include a 45-hectare park, a vast green “lung” for the entire Milanese conurbation, integrated with historic industrial buildings.

Thus, MilanoSesto will be a new urban center capable of welcoming more than 50,000 inhabitants, city users and visitors daily. It will also be the site of the Health & Research District, a large public complex of clinical and scientific excellence comprising the new sites of the Besta Neurological Institute and the National Tumor Institute, as well as the new university campus and hospital under the name of Università Vita – Salut San Raffaele.

Hines Italy is the strategic advisor and head of development for the whole project, as well as Hines being one of the investors for the development of the first private batch Unione 0. Prelios Group is the asset & project manager of MilanoSesto, as well that acts as a wealth manager for Unione 0.

Visit www.milanosesto.it for more information.

@MilanoSestoOfficial

@milanosesto_official

About Prelios Group

Prelios is one of the largest integrated alternative asset management, credit servicing and real estate services groups in Italy and Europe, with a total of more than 40 billion euros in assets under management. It is an independent platform with an experience of more than thirty years. Prelios’ unique service offering for real estate covers all the needs of Italian and international banks, institutional investors, investment funds and private clients, across the entire life cycle of the sector: management of NPEs , NPL and UTP, asset management, investment management, due diligence, real estate consulting, real estate and real estate portfolio appraisals, real estate and project management, real estate management, real estate brokerage, real estate investment fund management .

Visit www.prelios.com for more information.

About Accor

Accor is a world leading hotel group made up of more than 5,300 establishments and 10,000 restaurants in 110 countries. The group has one of the most diverse and integrated hotel ecosystems in the industry, comprising more than 40 brands of luxury, premium, midscale and budget hotels, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unrivaled position in lifestyle hospitality – one of the industry’s fastest growing categories – is led by Ennismore, a joint venture, of which Accor holds a majority stake. Ennismore is a creative hospitality company with a global collective of entrepreneurial, founder-driven brands with purpose at their heart. Accor has an unrivaled portfolio of distinctive brands and approximately 260,000 employees worldwide. Members benefit from the company’s comprehensive loyalty program – ALL – Accor Live Limitless – a daily life companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group focuses on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusiveness. Founded in 1967, Accor SA is headquartered in France and is listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC market (Ticker: ACCYY) in the United States. For more information, visit group.accor.com or follow Accor on Twitter, Facebook, LinkedIn and Instagram.

About Hines

Hines is a privately held, global real estate investment firm founded in 1957 and present in 285 cities in 28 countries. Hines oversees investment assets under management totaling approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The company currently has more than 198 developments underway worldwide. With extensive experience investing across the risk spectrum and in all property types, and a fundamental commitment to ESG, Hines is one of the largest and most respected real estate organizations in the world. world.

Since entering Europe in 1991, Hines has grown its European platform to include offices in 17 cities as well as a presence in 60 cities in 14 countries. Hines oversees investment assets under management valued at approximately €24.5 billion and provides third-party real estate services totaling 4.3 million square meters in Europe, Austria, Czech Republic, Denmark , in Finland, France, Germany, Greece, Ireland, Italy and the Netherlands, Poland, Spain and the United Kingdom.

Visit www.hines.com for more information.

¹ Includes both Hines Global Organization and RIA AUM as of December 31, 2021.

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